US calls for pushing up debt ceiling $50 billion

By
With analysis from Monitor correspondents around the world,
edited by Hilary Devries /
January 30, 1981

Washington

In the midst of proclaiming its budget-cutting goals, the Reagan administration has been forced into an obviously distasteful step: It asked Congress to increase the national debt limit by nearly $50 billion. Treasury Secretary Donald Regan said the request was made because the conditions of the economy and government commitments "leave us no choice in this matter." Mr. Reagan asked Congress to raise the present $935.1 billion debt ceiling, which runs through Sept. 30 to $ 985 billion.